Gold consolidates below record highs amid safe-haven flows and dovish Fed expectations

*RUSSIA DRAFTS PLAN TO SEIZE FOREIGN ASSETS IF EU ACTS ON FUNDS

This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on September 17, 2025. This summary reflects discussions and deliberations by members of Governing Council in stage three of the Bank’s monetary policy decision-making process. This stage takes place after members have received all staff briefings and recommendations. Governing Council’s policy decision-making meetings began on September 12, 2025. The Governor presided over these meetings. Members in attendance were Governor Tiff Macklem, Senior Deputy Governor Carolyn Rogers and Deputy Governors Toni Gravelle, Sharon Kozicki, Nicolas Vincent, and Michelle Alexopoulos. Deputy Governor Rhys Mendes did not attend. BoC Meeting Minutes: Members reviewed a broad range of inflation indicators and agreed they continued to point to underlying inflation of around 2.5%. Experts Say Household Spending Will Continue To Boost Growth, Supporting Slight Expansion As Previously Estimated, But Warn That Trade Disruptions Could Add Costs With Uncertain Timing, Magnitude, And Inflation Effects.

The Soybean Farmers of our Country are being hurt because China is, for “negotiating” reasons only, not buying. We’ve made so much money on Tariffs, that we are going to take a small portion of that money, and help our Farmers. I WILL NEVER LET OUR FARMERS DOWN! Sleepy Joe Biden didn’t enforce our Agreement with China, where they were going to purchase Billions of Dollars of our Farm Product, but Soybeans, in particular. It’s all going to work out very well. I LOVE OUR PATRIOTS, AND EVERY FARMER IS EXACTLY THAT! I’ll be meeting with President Xi, of China, in four weeks, and Soybeans will be a major topic of discussion. MAKE SOYBEANS, AND OTHER ROW CROPS, GREAT AGAIN!